This is the third financing round (series C) for District M since 2016, bringing the total to $39 million
Montréal, February 9, 2021 – A Montréal online advertising firm, district m has secured total investments of $19 million from the Fonds de solidarité FTQ ($7 million), Investissement Québec ($7 million) and EDC ($5 million) to support its international growth strategy and new technology development.
district m has designed a transparent, flexible programmatic ecosystem aimed at connecting advertisers and publishers online. The company is currently one of the top 10 programmatic ad exchanges in the world. District M has grown exponentially since its inception in 2013: revenue has increased as has the number of employees, and the company now also has offices in Toronto and New York.
“We are proud of this third investment in district m to support its growth abroad and are glad to be joined by Investissement Québec and EDC to complete this round. This transaction attests to the strength of JF Côté’s team, which was able to position itself in a growth sector on the global market, even during a pandemic,” said Mark D. Giuliani, Vice-President, Investments, Services, at the Fonds de solidarité FTQ.
“We are proud to be a part of district m’s growth and expansion project. The company is constantly seeking to enhance its technology portfolio to better meet businesses’ changing needs and consolidating its position in the industry. In addition, Investissement Québec is fulfilling its mission: to help create world-class businesses, particularly through their internationalization as a result of foreign acquisitions,” said Investissement Québec President and CEO Guy LeBlanc.
“EDC, alongside institutional investment partners, the Fonds de solidarité FTQ and Investissement Québec, is pleased to support district m as the company expands its North American presence,” said Carl Burlock, Executive Vice-President and Chief Business Officer at EDC. “This is a great example of the collaborative efforts between EDC and private-sector partners to support the international growth of Canadian companies with high growth potential.”
“We are fortunate and grateful to have the Fonds de solidarité FTQ, Investissement Québec and now EDC back our growth projects. We could not have become one of the key technology players in the programmatic advertising industry without their support and confidence in us,” said district m CEO JF Côté.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 700,000 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $15.6 billion in net assets as at November 30, 2020, the Fonds has supported more than 3,300 partner companies and over 220,000 jobs.
About Investissement Québec
Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes through investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation also prospects for talent and foreign investment and assists businesses with export activities.
About EDC
A financial Crown corporation, Export Development Canada (EDC) helps Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need—the trade knowledge, financing solutions, equity, insurance, and connections—to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically.
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